 "Nykaa Q4 results: Net profit rises 187% to Rs 6.9 crore, revenue up 28%")
FSN E-Commerce Ventures, parent of online beauty products seller Nykaa, on Wednesday reported a consolidated net profit of Rs 6.93 crore for the quarter ending on March 31 (Q4) in the financial year 2023-24 (FY24). At 187.4 per cent, this was a near two-fold increase in net profit, compared to Rs 2.41 crore reported in the year-ago period.
Consolidated revenue from operations grew by 28.1 per cent to Rs 1,667.98 crore year-on-year (Y-o-Y) from Rs 1,301.72 crore.
Segment-wise, FSN's beauty and personal care (BPC) business saw revenue growth of 24 per cent year-on-year to Rs 1,389 crore. The gross merchandise value (GMV) for this segment surged by 30 per cent Y-o-Y to Rs 2,120 crore, while the net sales value (NSV) for the BPC business also rose by 24 per cent year-on-year to Rs 1,271 crore.
The fashion business revenue also grew by 27 per cent Y-o-Y to Rs 1,334 crore for the March quarter. The GMV for the fashion segment mirrored this growth, increasing by 27 per cent year-on-year to Rs 842 crore.
Other business segments saw even more significant growth, with revenue jumping by 90 per cent year-on-year to Rs 146 crore. The GMV for these segments grew by 68 per cent Y-o-Y to Rs 255 crore.
For the entire financial year, the company reported a 67.5 per cent Y-o-Y growth in net profit at Rs 32.3 crore, from Rs 19.3 crore. Consolidated revenue from operations grew by 24.1 per cent to Rs 6,385.6 crore, from Rs 5,143.8 crore reported at the end of FY23.
In addition to these financial results, the company's board has approved an investment of Rs 20 crore in FSN International, a wholly-owned subsidiary, on a rights basis. FSN International is set to further invest approximately $1.9 million in one of its overseas arms, indicating continued expansion and strategic investment in its international operations.
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Shares of FSN E-commerce closed trading at Rs 179.2 on the BSE on Tuesday, ahead of the company's quarter earnings report.